Malaysian Palm Oil Exports Performance to Europe Region
(Jan – Aug 2020)
A Review on MPO Performance
Table 1: A Review on MPO Export Performance (MT)
|No.||COUNTRY||Jan – Aug 2020||Jan – Aug 2019||Diff (Vol)||Diff (%)|
|24.||Serbia & Montenegro||216||–||216||#DIV/0!|
During the period of Jan-Aug 2020, Malaysian palm oil export to the Europe region decreased by 66,793 MT or by 4.52% to a total of 1,409,972MT compared to 1,476,765 MT recorded in the same period of 2019 (Table 1). On a month to month basis, Malaysian palm oil exports to Europe decreased from 180,481 MT in July 2020 to 160,188 MT in Aug 2020. Netherlands remain as the leading importer of Malaysian palm oil in this region with 747,006 MT, an increase of 163,861 MT or by 28.10% compared to the same period of 2019. This higher import volume can be attributed to the increased demand from the re-exporters and traders to top up their stocks in preparation for the summer months from June to September which usually see higher palm oil demand. In addition, demand has picked up in many neighbouring countries as the effects of the Covid 19 pandemic has started to ease particularly from May. The strong demand was also helped by the widening price spread between soybean oil and palm oil in the recent weeks.
Despite being the third largest importer of palm oil from Malaysia, imports from Spain fell significantly by 225,379 MT, or by 61.94% attributable to lower demand for biodiesel production due to the combination of low crude oil price and Covid 19 pandemic which restricted transport and logistics activities during this review period.
Value of Exports
|Jan-Aug 2020||Jan-Aug 2019|
|Country||Volume||Value (RM Mil)||Volume||Value (RM Mil)|
In terms of value, Malaysia exported palm oil products worth RM3.93 billion compared to RM3.38 billion in the same period of 2020. This is an increase of RM557.64 billion or by 16.51%. Apart from the higher volume of exports, the higher value was also due to the higher average prices of all vegetable oils which also included palm oil products from April to August 2020.
Table 2: Breakdown of MPO Exports (MT)
|PRODUCT||Jan – Aug 2020||Jan – Aug 2019||Diff (Vol)||Diff (%)|
|CPO INTERNATIONAL SUSTAINABILITY AND CARBON CERTIFICATION||256,496||437,014||(180,518)||(41.31)|
|CPO FOR RSPO FROM SEGREGATED & INT SUSTAINABILITY N CARBON CERTIFICATION||162,242||82,884||79,358||95.75|
|PMF / RBD PMF||64,186||66,250||(2,064)||(3.12)|
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